Leading cryptocurrencies fell alongside stock futures on Sunday evening amid speculation over CLARITY Act passage and AI CEOs’ warnings of major safety risks.
Crypto Market Comes Under Strain
Bitcoin dropped to an intraday low of $76,367 late in the evening, while 24-hour trading volume spiked 10%. Ethereum followed a similar pattern later in the session, while XRP and Dogecoin sold off sharply.
The Senate is scheduled to hold a procedural cloture vote on the CLARITY Act on Tuesday.
Over $270 million was liquidated from the cryptocurrency market over the last 24 hours, with long position traders bearing the brunt of the losses, according to Coinglass data.
